Wells Fargo & Company (Wells Fargo) is a diversified financial holding company, providing retail, commercial and corporate banking services through banking stores located in 24 states of the US. Wells Fargo is a US based diversified financial services company offering banking, insurance, investments, mortgage and consumer finance through its sales and distribution network across North [...]
Wells Fargo & Company (Wells Fargo) is a diversified financial holding company in the US. The company’s key products and services include the following:
Community Banking:
Checking accounts
Debit cards
Individual retirement accounts
Insurance
Investment management
Market rate accounts
Mutual fund products
Personal trusts
Savings deposits
Securities brokerage
Time deposits
Venture capital financing
Wealth management
Wholesale Banking:
Asset-based lending
Employee benefit trusts and mutual funds, including the Wells Fargo advantage funds
Equipment leasing
Equity [...]
Wells Fargo
The company recorded revenues of $39,390 million during the fiscal year ended December 2007, an increase of 10.4% over 2006.
Wells Fargo generates revenues through three business divisions: community banking (64.8% of the total revenues during fiscal year 2007), wholesale banking (21.2%) and Wells Fargo Financial (14%).
Revenues by Division
During the fiscal year 2007, the community [...]
The following companies are the major competitors of Wells Fargo & Company:
Bank of America Corporation
Capital One Financial Corporation
Citigroup Inc.
Providian Financial Corporation
U.S. Bancorp
American National Bankshares, Inc.
Commerce Bancorp, Inc.
International Bancshares Corporation
BancFirst Corporation
NetBank, Inc
Aon Corporation
Countrywide Financial Corporation
GE Money
Wachovia Corporation
Washington Mutual, Inc.
Tags: Competitors, Wells Fargo
A joint statement by Richard M.Kovacevich, Chairman and John G.Stumpf, President and Chief Executive Officer of Wells Fargo is given below. This statement has been taken from the company’s 2007 annual report.
To Our Owners
Our 2007 results were disappointing. They were not what you, our owners, expect from Wells Fargo. They were not what we expect [...]